The Analytical Overview of the Main Currency Pairs on 2018.04.02

The EUR/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.22988

Open: 1.23200

% chg. over the last day: +0.17

Day's range: 1.23107 – 1.23281

52 wk range: 1.0571 – 1.2557

The technical pattern on the EUR/USD currency pair is still ambiguous. Quotes are consolidating. Trading activity and volatility decreased due to the holidays. The key trading range is 1.23000-1.23350. Financial markets participants expect additional drivers. We recommend you to open positions from the key levels.

The news feed on 2018.04.02:

At 17:00 (GMT+3:00) the index of business activity in the manufacturing sector in the US from ISM will be published.

Indicators do not send accurate signals. The price has fixed between 50 MA and 200 MA.

The MACD histogram is near 0 mark.

Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which gives a signal to sell EUR/USD.

Trading recommendations

Support levels: 1.23000, 1.22600

Resistance levels: 1.23350, 1.23750, 1.24200

If the price fixes below the round level of 1.23000, it is necessary to consider sales of EUR/USD. The movement is tending potentially to 1.22600-1.22400.

Alternative option. If the price fixes above 1.23350, it is necessary to look for entry points to the market to open long positions. The movement is tending potentially to 1.23750-1.24000.

The GBP/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.40173

Open: 1.40147

% chg. over the last day: -0.01

Day's range: 1.40024 – 1.40560

52 wk range: 1.2361– 1.4345

At the moment, the GBP/USD currency pair is in a sideways trend. The technical pattern is ambiguous. Quotes are testing the key support and resistance levels: 1.40150 and 1.40650, respectively. Financial markets participants expect statistics on the US economy. Positions must be opened from the key levels.

The news feed on the UK economy is calm.

The price has fixed between 50 MA and 200 MA, which are strong dynamic support and resistance levels.

The MACD histogram is near 0 mark. There are no signals at the moment.

Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which signals to buy GBP/USD.

Trading recommendations

Support levels: 1.40150, 1.39850, 1.39500

Resistance levels: 1.40650, 1.41200

If the price fixes above the resistance level of 1.40650, it is necessary to consider purchases of GBP/USD. The movement is tending potentially to 1.41000-1.41200.

An alternative may be the decrease of GBP/USD to 1.40150-1.40000.

The USD/CAD currency pair

Technical indicators of the currency pair:

Prev Open: 1.28816

Open: 1.28885

% chg. over the last day: +0.08

Day's range: 1.28784 – 1.28965

52 wk range: 1.2059 – 1.3795

The USD/CAD currency pair continues to consolidate. A unidirectional trend is not observed. The key support and resistance levels are still: 1.28650 and 1.29000, respectively. We recommend opening positions above/below these marks. Investors expect economic reports from the United States.

The news feed on Canada's economy is calm.

Indicators do not send accurate signals. The price crossed 50 MA.

The MACD histogram is located near the 0 mark.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which gives a signal to sell USD/CAD.

Trading recommendations

Support levels: 1.28650, 1.28250

Resistance levels: 1.29000, 1.29400, 1.29800

If the price fixes above the round level of 1.29000, the USD/CAD currency pair is expected to grow. The movement is tending potentially to 1.29400-1.29500.

An alternative may be the correction of the USD/CAD quotes to the level of 1.28400-1.28250.

The USD/JPY currency pair

Technical indicators of the currency pair:

Prev Open: 106.410

Open: 106.169

5 chg. over the last day: -0.14

Day's range: 106.169 – 106.405

52 wk range: 104.56 – 114.74

At the moment, the USD/JPY quotes are consolidating after a significant growth last week. The trading instrument is testing local support and resistance levels: 106.150 and 106.500, respectively. The further growth of the USD/JPY currency pair is not excluded. Positions must be opened from the key levels. We recommend you to pay attention to the news feed on the US economy.

During the Asian trading session, weak economic reports from Japan were published.

Indicators do not send accurate signals. The price crossed 50 MA.

The MACD histogram is located near the 0 mark.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which gives a signal to sell USD/JPY.

Trading recommendations

Support levels: 106.150, 105.750

Resistance levels: 106.500, 106.750, 107.000

If the price fixes above the 106.500 mark, it is necessary to consider purchases of USD/JPY. The movement is tending potentially to 106.750-107.000.

Alternative option. If the price fixes below the 106.150 level, the USD/JPY quotes are expected to fall. The target movement level is 105.750.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer,
and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.